Our interests are currently more focused on short term rentals, but we are also interested in many other aspects of real estate investing and looking to make a start.

Tell them you want a 7 day inspection contingency.I'd have my GC (who you really need to find first, vet them, meet with them, feel them out, ask for referrals, look at their work) walk through and take pics and start formulating the costs.The ARVs can be pulled for you by an agent. 

So I started looking into other schools.

Also, does the 20 days start over when you submit a counter offer?

First 10 years is interest only, then after that you start paying principal/interest, but you can pay off the credit sooner and then as you pay it off you can invest in more deals once you get your other properties cash flowing to cover the debt service.

I’m not sure why it hasn’t started to gentrify with its proximity to the West Loop etc.

I'm just starting out in wholesaling.

Before I started out a decade ago, I tended toward books and information. 

The moment folks starts testing new markets because Memphis "Isn't working out" is the moment all the deals reveal themselves!

This gave the seller time to pack and relocate.